Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Jamaica. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in June 2014.

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Ascertain from the Registrar of Companies whether the desired name is available and acceptableAgency: Companies Registry Office

The proposed company files a Form 6 - Name Search and Name Reservation with the Companies Office of Jamaica to ascertain the availability of the name at a cost of JMD 500. It is also recommended that a name reservation be done for an additional JMD 3,000 to reserve the name for 90 days.

1 day

JMD 500

2

File the Article of Incorporation and Business Registration Form with the Companies Registry OfficeAgency: Companies Registry Office

Since January 1, 2014 entrepreneurs are no longer required to submit forms separately to the National Insurance Scheme (NIS), Taxpayer Registration Number (TRN) and General Consumption Tax (GCT). These registrations are now subsumed under the Business Registration Form. Thus, only two forms are required, the Article of Incorporation form and the Business Registration Form.

Cost details:JMD 15,000 (registration fee) + JMD 3,000 for each additional document of which there are three:(a) Notice of Registered Office, Notice of Appointment of Directors and Notice of Appointment of Company Secretary + JMD 3,000 for articles of incorporation + JMD 3,000 for the Business Registration Form.